Institutional Investors Flock to Ethereum!

  • Following the Shapella upgrade in Ethereum, staking value reached a record high.
  • Institutional and large investors continue to use staking services.

The Shapella upgrade in Ethereum has increased staking. Despite withdrawal transactions, institutions are showing interest.

Staking Increases Following Shapella in Ethereum!

The long-awaited Shanghai upgrade in the Ethereum (ETH) ecosystem has finally happened. Following this upgrade, which enabled the withdrawal of staked ETH, staking activity on the platform not only saw an increase, but also recorded record-breaking results.

According to the data dashboard created by digital asset investment company 21Shares and acquired by CoinOtag in April, the Ethereum network received 571,950 ETH entries in the week of April 17.

ETH Staking Activities

Specifically, according to the graph, staking activity has visibly increased in recent weeks and recorded the highest daily number on April 24 (126,080 ETH staked).

Institutional Interest

According to the data, this increase is largely driven by institutional staking service providers and large investors who want to reinvest their rewards after withdrawal transactions.

ETH Deposit Transactions

Freddy Zwanzger, Ethereum ecosystem leader at blockchain infrastructure platform Blockdaemon, had predicted the increase in interest following Shapella. As he previously told CoinOtag, large professional investors would be interested in Ethereum staking opportunities because they would have a clear option to withdraw their money:

“There will probably be a queue for the first few weeks. (…) So it might be better for them to wait until things return to normal levels.”

Don't forget to enable notifications for our Twitter account and Telegram channel to stay informed about the latest cryptocurrency news.
spot_imgspot_imgspot_imgspot_img

Latest News

SEC Greenlights Ethereum (ETH) ETF Funds, Paving Way for Crypto Investment Surge

The crypto industry has seen rapid advancements...

5 Hollywood Stars Investing in Altcoins: Top Crypto Picks Including BTC, ETH, and More

<ul> <li>Hollywood's leading actors are increasingly showing interest...
spot_imgspot_imgspot_imgspot_img

PRO Analysis

How Elections Impact Bitcoin (BTC) and Ethereum (ETH) Prices: A Comprehensive Analysis

<ul> <li>Crypto investors have recently endured challenging market...

Analysis Firm Reveals Key Drivers Behind Bitcoin (BTC) Recent Surge

<ul> <li>Bitcoin's recent price recovery has been analyzed...
Gideon Wolf
Gideon Wolfhttps://en.coinotag.com/
GideonWolff is a 27-year-old technical analyst and journalist with extensive experience in the cryptocurrency industry. With a focus on technical analysis and news reporting, GideonWolff provides valuable insights on market trends and potential opportunities for both investors and those interested in the world of cryptocurrency.
spot_imgspot_imgspot_imgspot_img

SEC Greenlights Ethereum (ETH) ETF Funds, Paving Way for Crypto Investment Surge

The crypto industry has seen rapid advancements recently. On May 22, bipartisan backing for a crypto regulation bill emerged in Washington...

5 Hollywood Stars Investing in Altcoins: Top Crypto Picks Including BTC, ETH, and More

<ul> <li>Hollywood's leading actors are increasingly showing interest in cryptocurrencies and NFTs.</li> <li>In this article, we will explore the crypto and NFT...

May 2024 Crypto Spotlight: Whales Favor BlockDAG Over Retik Finance ($RETIK) – Can CoinW & P2B Listings Revive $RETIK?

In May 2024, discerning investors are gravitating towards BlockDAG due to its superior technology and strategic market actions. BlockDAG’s impressive $34.5...